Watch how to download trading robots for free
Find us on Twitter!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
Indicators

Volatility adjusted WPR - indicator for MetaTrader 5

Views:
7011
Rating:
(19)
Published:
2018.10.17 22:53
Updated:
2018.10.19 12:21
MQL5 Freelance Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

This is volatility adjusted WPR (Williams Percent Range). Volatility used for adjusting is the "simple volatility" (no need for it, it is already incorporated in the code of this indicator)

There are 2 deviations compared to original WPR:

  • in order to display histogram in a simple way (without usage of 2 extra buffers), the value of WPR is shifted by +50 (ie: up)
  • smoothing is added (WPR is known for being "nervous" - this version can use low lag smoothing to smooth the results up. To turn the smoothing off, set the smoothing period to be less than or equal to 1)

PS: an example why the smoothing seems to be necessary for WPR. 3 instances of WPR :

  • top most - the smoothed volatility adjusted
  • middle - volatility adjusted without smoothing
  • lowest - "regular" WPR

Which one would you use for trading decision on that chart?



Volatility adjusted RSI Volatility adjusted RSI

Volatility adjusted RSI

Simple volatility Simple volatility

Simple volatility

Directional smoothed momentum Directional smoothed momentum

Directional smoothed momentum (momentum of averages)

Hull levels Hull levels

Hull levels